In Turkey, inflation is on the rise, which is mostly to blame for this economic collapse. As a result of this, many Turkish investors, particularly those under the age of 30, have resorted to cryptocurrencies instead of using the Turkish Lira any longer for the purpose of to guarantee their life savings. That’s why cryptocurrency exchanges are very popular in Turkey.
Nearly 10 million people, or 11% of the Turkish population, are estimated to hold the cryptocurrency, with an additional 30 million have cryptocurrency trading accounts but, what are the most popular and preferred crypto exchanges in Turkey?
Today, in this article, we will outline top cryptocurrency exchanges in Turkey.
Top Crypto Exchanges in Turkey
Binance
The biggest cryptocurrency exchange in the world, Binance, has won the award of best exchange overall in Turkey.
Turkish traders are able to select Binance as the ideal platform for cryptocurrency transactions because to its unrivaled volume, broad list of trading pairs, and extremely low fee structure.
Binance has adapted its services to suit to the marketplace in Turkey by offering Turkish Lira (TRY) trading pairs, local ways to pay, and particular support for customers in Turkish, as well as to its extensive trading tools and extremely strict safety protocols.
Fees: For TRY deposits and withdrawals, the fees vary between 0.5% – 2.99% depending on the method. The spot trading fee is 0.1% and the future maker/taker rebate is 0.02%/0.06%.
Investment Options: Staking, lending, NFT trading
TRY Deposit Methods: Debit/Credit Card, Advcash, Wise, QNB, Bank Transfer.
OKX
Cryptocurrency traders are able to make use of a number of services from the worldwide exchange OKX. OKX offers a wide range of trading alternatives, including spot trading, derivatives trading, crypto asset staking, and options trading too.
Turkish investors are also drawn to OKX because of its reputable position in the market. Furthermore, the platform has low costs that start as 0.1% and supports over 300 cryptocurrency.
Fees: For TRY deposits and withdrawals, there are no fees. For Crypto withdrawals, there is a small fee. The spot trading fee is 0.1% and the derivatives maker/taker rebate is 0.02%/0.05%.
Investment Options: Demo trading, savings, staking, flash deals, spot trading, margin trading
TRY Deposit Methods: Bank Transfer, Credit/Debit Card, Ziraat, Kuveyt Turk, Papara and QNB.
Bitexen
Bitexen, a centralized cryptocurrency exchange located in Istanbul, Turkey, was founded on May 4th, 2018. Over six million people have joined it since that time and it has become an appealing choice for cryptocurrency users in Turkey as well as worldwide.
With its simple interface, you can easily access all of the required functions, and you can start transactions with the contracted banks at any time additionally to offering API support, this Turkish cryptocurrency exchange offers live customer service all day long. At the same time, coins of sports teams and certain companies are available for purchase.
Fees: The spot trading fee starts from 0.3% and the derivatives maker/taker rebate is 0.02%/0.06%.
Investment Options: The cryptocurrency exchange does not offer investment programs.
TRY Deposit Methods: Bank transfer
KuCoin
KuCoin launched in September 2017 and offers nearly 700 cryptocurrencies.
It is an excellent choice for Turkish investors who want to trade in altcoins thanks to the low fees, massive selection of tradeable coins, markets and instruments, strong reputation, trustworthy exchange, impressive earn section and its high liquidity and trading volume.
All of these features work together to make KuCoin a trustworthy and dependable choice for people wishing to invest in Turkey’s expanding cryptocurrency industry.
Fees: For TRY deposits and withdrawals, there are no fees. The spot trading fee starts from 0.1% and the derivatives maker/taker rebate is 0.02%/0.06%.
Investment Options: Margin trading, lending, staking, NFT trading
TRY Deposit Methods: Bank Transfer, Eft Transfer, Skrill, Blik, STC Pay, and 5 more options.
BtcTurk
The leading Turkish cryptocurrency exchange, BtcTurk has established itself as the top alternative for local customers looking for a platform customized to the particular needs of the Turkish market.
Users of BtcTurk PRO are able to transact directly between TRY and a number of cryptocurrencies with the platform’s support for several Turkish Lira trading pairs.
Fees: If you’re a Turkish citizen, the trading fees on BtcTurk PRO vary as there is an 18% VAT charged for residents of Turkey.
Investment Options: The cryptocurrency exchange does not offer investment programs.
TRY Deposit Methods: Bank Transfer and Interbank Transfers (EFT).
Paribu
Paribu is a cryptocurrency trading platform that was launched in 2017. It has grown significantly since its founding and currently has about 6 million registered users. Paribu offers fast, easy, and secure cryptocurrency trading services.
It offers trading in Bitcoin and several other cryptocurrencies and provides effortless EFT deposits and withdrawals in Turkish lira to all the major banks in Turkey. Paribu’s offering also includes a mobile application, no lower limits for deposits, high transaction speeds, and full transparency.
Fees: For TRY deposits and withdrawals, there are no fees. For Crypto withdrawals, there is a small fee. The spot trading fee starts from 0.1% and the derivatives maker/taker rebate is 0.02%/0.06%.
Investment Options: The cryptocurrency exchange does not offer investment programs.
TRY Deposit Methods: Bank Transfer
Conclusion
To summarize, the Turkish crypto trading environment is diversified and expanding, with prominent platforms such as Binance, OKX, Bitexen, KuCoin, BtcTurk and Paribu providing a wide range of chances to both professional and new traders.
All of them provides its own set of benefits, starting with broad trading tools to privacy, easy-to-use interfaces, local market specialized services.
